Bristol-Myers Squibb enters partnership with Simcere
Will co-develop a preclinical cancer compound
Bristol-Myers Squibb and Chinese pharmaceutical firm Simcere Pharmaceutical Group have agreed to co-develop BMS-817378, a preclinical small molecule MET/VEGFR-2 inhibitor. This will accelerate a preclinical cancer compound to clinical proof-of-concept by combining the complementary strengths of the two firms.
Under the terms of the agreement, Simcere receives exclusive rights to develop and commercialise BMS-817378 in China, while Bristol-Myers Squibb retains exclusive rights in all other markets. The firms will together determine a strategic development plan, which will initially be performed by Simcere. Financial terms were not disclosed.
Dr Peng Wang, chief scientific officer at Simcere said the partnership demonstrates how the firms can accelerate a drug development timeline and conduct first-in-human studies in China.
‘This approach allows the partnership to leverage our well-recognised clinical and regulatory capabilities and our access to the vast patient pool in China,’ he said.
‘Working together we are building on the strengths of both organisations to develop potential medicines and help patients,’ added Francis Cuss, senior vice president of research at Bristol-Myers Squibb.
